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Financial Times joins coverage of closure of historic tavern by Bermuda company

The Financial Times has reported on the closure of Simpson’s Tavern by a Bermuda-based company

The UK’s Financial Times has joined a slew of UK media organisations reporting on the plight of one of London’s oldest restaurants which is operating from Bermuda.

Tavor Holdings, registered on Victoria Street in Hamilton, owns the property which has been home to chop house Simpson’s Tavern since 1757.

Last month, the company closed the eatery after it ran into arrears on its rent.

The FT’s Paul Murphy wrote in an opinion piece: “According to Simpson’s manager Ben Duggan, the landlord Tavor Holdings has demanded full payment of all arrears rather than allowing the business to pay off its dues gradually. Tavor is Bermuda-based, using agents Hartnell Taylor Cook to handle a possible sale of the property, with the help of solicitors Memery Crystal.

“Who owns or controls Tavor is hidden behind a Jersey trusteeship. The UK’s new economic transparency rules now require the mandatory declaration of beneficial ownership of property. The deadline for this is January 2023: too late for Simpson’s supporters.”

Fortune magazine has reported that Tavor is owned by the family of energy drinks billionaire Rodney Sacks, who is chairman and CEO of of Monster Beverage Corp.

The FT, one of the world’s best business newspapers, highlighted how the establishment was a regular haunt of Nigel Farage, a former British politician and former leader of the UK Independence Party.

Mr Murphy wrote: “While Farage has joined the long list of dedicated patrons calling for Simpson’s to be saved, the fundraising effort is going slowly.”

Simpson’s has set up a fundraising page to help save the business. It has so far raised £90,480 ($106,000) of its £385,000 ($450,000) target.

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Published November 14, 2022 at 7:50 am (Updated November 14, 2022 at 7:50 am)

Financial Times joins coverage of closure of historic tavern by Bermuda company

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